Liz Ann Sonders, chief investment strategist at Schwab, said that the MF Global situation seemed to be more a miss by the auditors than a regulatory problem.
"It may show that we don't have adults manning the regulatory store, and that to the extent that this was a miss on the part of auditors, that should have been obvious suggests that this is still a problem," she said.
"It's another hit to the confidence certainly of individual investors who have, maybe rightly so, felt that the whole game is rigged against them."
CEO & Partner, Parisian Family Office. Began Wall Street career in 1982. Founded investment firm, Native American Advisors, 1995. White Earth Chippewa, Tribal Member. Raised on reservations. Conservative. NYSE/FINRA arbitrator. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from Ghost Ranch on the Yellowstone River in MT, TN farm, Pamelot or CASA TULE', their winter camp in Los Cabos, Mexico. Always been, and will always be, an optimist.
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